20 Feb 2025

The Delhi Urban Shelter Improvement Board (DUSIB) has started the process of shortlisting firms to repair over 2,400 flats in northwest Delhi's Savda Ghevra. These flats, built nearly a decade ago under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), will be used to house slum dwellers currently living in various JJ bastis across the capital. The repairs, estimated to cost approximately INR 14.75 crore, will be completed in two phases, with the first 1,000 flats set to be ready within three months. The relocation initiative aligns with Delhi's broader urban development goals, including reducing overcrowding and improving access to essential services. The project is expected to contribute to long-term social and economic upliftment in these communities.Read more

20 Feb 2025

Tamil Nadu Chief Minister M.K. Stalin emphasized the state's commitment to sustainable housing and urban planning at the FAIRPRO 2025 real estate exhibition. He announced master plans for 136 cities, including Coimbatore, Madurai, and Tiruchirappalli, while the CMDA is working on Chennai's third master plan. With Tamil Nadu's urban population at nearly 48%, the state is streamlining building approvals through a single-window system, cutting approval time from 180 days to 64-90 days. Plans include nine satellite townships around Chennai, a INR 250 crore shoreline revitalization project, and improved transport hubs to support balanced urban growth.Read more

20 Feb 2025

Earlier this week, Finance Minister Nirmala Sitharaman handed over keys to homebuyers in the MMR, marking the completion of 50,000 homes under the SWAMIH Fund. Established in 2019, the fund aims to revive stalled residential projects and provide relief to distressed homebuyers. By the end of 2021, it had already committed to funding over 300 distressed projects in cities like Delhi, Noida, and Bengaluru. Managed by SBI Ventures Ltd. and sponsored by the Ministry of Finance, it has become India's largest social impact fund in the real estate sector, successfully contributing to economic growth and the housing market.Read more

19 Feb 2025

In 2024, flexible workspace operators recorded a significant 57.5% year-on-year (YoY) growth, with a total gross leasing volume (GLV) of 12.4 million sq ft, accounting for 14% of India's overall office leasing. Bengaluru emerged as the leader, leasing 3.4 million sq ft, followed by Mumbai, Delhi-NCR, Hyderabad, and Pune. Additionally, flexible workspace operators leased out 2.24 lakh seats, marking a 44% increase from the previous year, with Bengaluru again taking the largest share. The IT-BPM sector remained the top contributor to seat leasing, followed by engineering, manufacturing, and other sectors.Read more

19 Feb 2025

The MHADA Konkan Board has launched an online Housing Demand Survey to gauge public interest in upcoming affordable housing projects in Ambarnath. The survey, open until the end of February, aims to gather data on potential applicants to aid in project planning. MHADA plans to develop housing units at Kohij Khuntavali and Shivganga Nagar for the Economically Weaker Section (EWS) and Middle-Income Group (MIG). Citizens can participate online and access project site locations via QR codes. Public feedback will play a critical role in determining the projects' feasibility and implementation.Read more

19 Feb 2025

The Ghaziabad Development Authority (GDA) has reduced the proposed Harnandipuram township project from 521 hectares to 371 hectares, citing financial limitations. The project will now exclude land from three villages-Shahpur Morta, Bhowapur, and Morta-while focusing on acquiring 127 hectares from five others. Land acquisition costs are estimated at INR 5,000 crore, with total development costs reaching INR 10,000 crore. A six-member panel will oversee the process to ensure fair land rates. The GDA aims to proceed with phased development while addressing financial and logistical challenges.Read more

19 Feb 2025

The Delhi Development Authority (DDA) will conduct a fresh survey of 173 slum clusters to assess eligibility for rehabilitation under the Pradhan Mantri Awas Yojana (Urban). The survey, expected to be completed in six months, will collect data on household counts, financial status, and residency eligibility for Economically Weaker Section (EWS) flats. Currently, 205 out of 378 DDA-controlled slum clusters have been surveyed. This initiative follows past in-situ rehabilitation projects at Jailorwala Bagh and Kalkaji, aiming to improve living conditions for slum dwellers.Read more

18 Feb 2025

The Sanjaynagar housing project in Vadodara, launched under the Pradhan Mantri Awas Yojana, has faced significant delays, with only 22% completion in eight years. Intended as a public-private partnership, it aimed to rehabilitate displaced urban poor while facilitating commercial development. However, over 2,000 homes were demolished, and many affected families have not received the promised rent support, leading to financial distress. Despite multiple deadline extensions, construction remains stalled. The project's setbacks highlight issues in PPP execution, contractor accountability, and governance. Experts suggest adopting best practices from successful schemes to ensure timely completion and restore public trust.Read more

18 Feb 2025

The Lucknow bench of the Allahabad High Court has temporarily stayed the demolition of 81 flats in the Royal Green Apartment, Lucknow, granting relief to residents who were served notices to vacate their homes. The demolition orders stemmed from actions against the builders 19 years ago. The court allowed residents to compound their properties by paying a penalty and stated it would hold officials of the Lucknow Development Authority (LDA) accountable for their failure to act on the original orders. This case highlights issues like regulatory lapses, the importance of legal due diligence for homebuyers, and the broader implications for real estate developers and market trust.Read more

18 Feb 2025

Mahindra Lifespace Developers (MLDL) plans to raise INR 1,500 crore through a rights issue to reduce debt and fund growth initiatives. The board has approved the issuance of fully paid-up equity shares, targeting existing shareholders. MLDL focuses on premium and mid-premium housing in Mumbai, Pune, and Bengaluru. The funds will improve financial flexibility, lowering its debt-to-equity ratio and enabling expansion. This move aligns with industry trends as developers prioritize balance sheet strength amid growing demand. India's real estate market resurgence further supports MLDL's strategic growth plans.Read more